Virginia Sportsbooks Report Huge Month Thanks to March Madness Betting

The latest monthly revenue report from the Virginia Lottery shows that the state’s licensed sportsbooks accepted over $469.4 million during the month of March.
March Madness pulled in over $109.4 million in wagers

Virginia Sportsbooks Report Huge Month Thanks to March Madness Betting, but still fell just short of the state’s all-time record of $485.5 million. However, March was the second highest total amount wagered in a single month since the launch of sports betting in Virginia.

Virginia Sportsbooks Report Huge Month Thanks to March Madness Betting Virginia Sportsbooks Report Huge Month Thanks to March Madness Betting

The report also reveals that the total amount won by Virginia gamblers since sports betting in Virginia launched in January 2021 now sits at $4.19 billion

Bonuses and promotions for the month totaled $14.1 million down $1.7 million from the previous month while other deductions came to $5.2 million. This resulted in combined adjusted gross revenue (AGR) of $14.38 million up by 84.35% from the AGR posted in February.

Five of the state’s 12 mobile sports betting operators reported a positive AGR for the month of March resulting in state taxes of $2.1 million. This brings the total amount paid to the state since the industry launched to $26.7 million.

Virginia Sportsbooks Report Huge Month Thanks to March Madness Betting to Hard Rock Bristol. The company expects to open a temporary gaming facility as early as July 2022.

Natasha Lyndon

Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.